Mission Creek Capital Partners Inc. Sells 820 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Mission Creek Capital Partners Inc. sold 820 shares of Cadence Design Systems, Inc., reducing its holdings in the company by 16.3% during the first quarter.
• Cadence Design Systems reported earnings of $1.65 per share for the last quarter, exceeding analyst expectations, with revenues of $1.28 billion, representing a year-over-year increase of 20.2%.
• Various analysts have upgraded their price targets for Cadence Design Systems, with Needham & Company raising their target from $325 to $390, reflecting strong market confidence in the stock.

Mission Creek Capital Partners Inc. cut its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 16.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,202 shares of the software maker's stock after selling 820 shares during the period. Mission Creek Capital Partners Inc.'s holdings in Cadence Design Systems were worth $1,069,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new stake in Cadence Design Systems in the first quarter worth $25,000. Costello Asset Management INC bought a new position in shares of Cadence Design Systems during the first quarter valued at about $25,000. Valley National Advisers Inc. raised its stake in Cadence Design Systems by 707.1% in the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after buying an additional 99 shares in the last quarter. Ancora Advisors LLC raised its stake in Cadence Design Systems by 1,400.0% in the fourth quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after buying an additional 112 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Cadence Design Systems by 36.5% in the first quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock worth $44,000 after buying an additional 46 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CDNS. Wells Fargo & Company increased their price target on shares of Cadence Design Systems from $365.00 to $405.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Wall Street Zen upgraded shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 23rd. Berenberg Bank set a $400.00 price objective on shares of Cadence Design Systems in a report on Wednesday, July 30th. Finally, Stifel Nicolaus upped their price objective on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $364.33.

Insider Buying and Selling

In related news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total transaction of $54,720.00. Following the transaction, the director owned 8,010 shares in the company, valued at $2,435,040. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $358.72, for a total transaction of $358,720.00. Following the transaction, the vice president owned 104,499 shares in the company, valued at approximately $37,485,881.28. This trade represents a 0.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,830 shares of company stock worth $1,207,671. 1.99% of the stock is owned by insiders.

Cadence Design Systems Stock Down 1.1%

Shares of NASDAQ:CDNS traded down $3.86 during trading on Friday, reaching $350.43. 1,303,717 shares of the stock traded hands, compared to its average volume of 1,433,451. The stock has a 50-day moving average of $334.39 and a two-hundred day moving average of $297.41. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. The stock has a market cap of $95.49 billion, a P/E ratio of 94.71, a price-to-earnings-growth ratio of 4.60 and a beta of 0.97.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.09. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The firm had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The business's revenue for the quarter was up 20.2% on a year-over-year basis. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. As a group, sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Cadence Design Systems Profile

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.